The end of cryptocurrency mines in China. Production dropped to zero

The end of cryptocurrency mines in China. Production dropped to zero

China’s dominance of cryptocurrency mining has come to an end. The latest statistics from the Cambridge Bitcoin Electricity Consumption Index (CBECI) indicate zero activity in this area since July this year. (via MinedPool).

This is nothing new considering that the governing Communist Party of China has announced that cryptocurrency-related activities will be banned. However, this the first such situation when China was not included in the statistics on bitcoin mining . For ethereum in the last 24 hours only 5 nodes were active, corresponding to 0.19 percent. world mining (via etherscan) .

This indicates that government repression prompted Chinese crypto miners to relocate to neighboring states or to “underground”. In the first case, Kazakhstan’s share has significantly increased in recent months, with the share of bitcoin mining in June reaching 8.8%, and in August as much as 18.10%. Other border states, such as Russia, also recorded increases, but less impressive.

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About Eshan William 19321 Articles
A 25 years old blogger. Other than gaming, I like watching documentaries and working on cars. A hardcore PC gamer is what I have always been and always will be.

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